Answer: The correct answer is YES it is admissible as evidence of the plumber's fault.
Explanation: An Evidence has probative value if it tends to prove an issue. The testimony of the homeowner of the regarding the plumber's response is a party admission. It is admissible as a hearsay exemption under Rule 801(d)(2)(A) which explains that a statement or statemens made by a party in a case cannot be excluded as hearsay when offered against him by the opponent. As such, the statement is a probative evidence.
Answer:
A. (a, the area between the diagonal line and the lorenz curve divided by the total area below the diagonal line)
B. (a, a perfectly unequal income distribution will have a Gini ration of 1.)
C. (a, more equal)
Explanation:
A. Gini ratio can be defined as the statistical determination of the wealth and income distribution among a country's populace.
It can also be called Gini coefficient or Gini index, and it is a measure of the inequality in income and wealth distribution.
The Gini ration is calculated by finding the difference between the Lorenz curve and the uniform distribution line, then divided by the total area under the uniform distribution line. A Gini ration of <0.2 is the perfect income equality.
B. Gini ratio cannot exceed 1 because a perfectly unequal income distribution will have a Gini ratio of 1. This means that the line of equality does not move irrespective of whether or not the Lorenz curve changes.
C. If the Gini ratio declines from 0.42 to 0.35, then that means that income has become more equal. Note that a Gini ratio of <0.2 signifies a perfect income distribution, slightly greater than 0.2 to ).35 signifies that income distribution is close to equality.
Cheers.
Answer:
a. 6.36%
b. $378.02
Explanation:
a. The computation of Annual percentage rate is shown below:-
Annual percentage rate = Lease factor × 2,400
= 0.00265 × 2,400
= 6.36%
b. For computation of monthly lease payment first we need to find out the depreciation charge, finance charge and tax which is shown below:-
Depreciation charge = (Base cost + Other cost - Down payment - Residual value) ÷ Number of lease payment
= ($27,600 + $1,050 - $3,000 - $17,000) ÷ 36
= $8,650 ÷ 36
= $240.27
Finance charge = (Base cost + Other cost - Down payment - Residual value) × Lease factor
= ($27,600 + $1,050 - $3,000 - $17,000) × 0.00265
= $42,650 × 0.00265
= $113.0225
now,
Tax = (Depreciation charge + Finance charge) × Tax rate
= ($240.27 + $113.0225) × 7%
= $353.2925 × 7%
= $24.73
Monthly Lease payment = Depreciation charge + Finance charge + Tax
= $240.27 + $113.0225 + $24.73
= $378.02
Answer:
1. False 2. True
Explanation:
1. The candidate for political office announcing that the policy to reduce immigration from abroad which, he says, economics clearly demonstrates will lead to higher output in the long run; is false.
What increases output are the factors of production of which labor is a major component. When there are more people willing and able to work in an economy, <u>they help companies to produce more output but that is not the case when immigration is reduced, obviously that would reduce productivity and output.</u>
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2. However his second claim is right, that making trade more open between the US and other countries will increase output on the long run.
Trade barriers like tariffs and duties impede the level of trade between countries which could either reduce the amount of money countries make after netting off custom duties or the price of imported goods are increased by the effect of tariffs. Increased price means reduced demand
<u>Hence if tariffs are replaced with subsidies in open trade, prices of U.S imported goods will fall and demand will increase.</u>
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Answer: necessity entrepreneur
Explanation: While an entrepreneur is described as someone who organizes and operates a business venture and assumes much of the associated risks, necessity entrepreneurs only do so out of necessity (the quality or state of being necessary, unavoidable, or absolute requisite). As such, they are individuals ranging from educated persons to street sellers especially in developing countries who create small businesses or enterprises out of the need to survive. In Michael Peters' case, he lost his job due to downsizing which caused him to apply his skills and talents to starting up a business.
